Pakistan’s Fatima Group strikes $1bn deal with Saudi & Chinese firms

By Amirtha P S, Desk Reporter
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Fatima Group
Fatima Group inks 2 MoUs with agriculture giants.

Fatima Group, one of the fastest-growing industrial conglomerates in Pakistan, has signed two Memorandum of Understandings (MoU) valued at over $1 billion with key global agriculture stakeholders, China Machinery Engineering Company (CMEC) from China and Sarh Attaqnia Company (SAC) from Saudi Arabia.

The formal signing of the business partnership was held at the Pakistan Pavilion in line with the ongoing Agriculture Week at Expo 2020 Dubai.

Fatima Group is leading the initiative of transforming Pakistan’s agriculture to serve as the world’s food basket. The company has been known as the country’s fastest-growing industrial conglomerate with more than $1 billion in revenue in industries like fertilizers, energy, textiles, sugar, cement, and venture capital investments.

Fawad Ahmed Mukhtar
Fawad Ahmed Mukhtar
Chairman – Fatima Group

“As chairman of a leading Pakistani conglomerate, it is my vision to bring modern precision farming to Pakistan. We as a country are blessed with immense potential and I strongly believe that with the right partners we can create a big difference not just for Pakistan’s food security but the entire region’s. We are grateful to our Chinese and Saudi counterparts who have put their trust and faith in us. I am hopeful that this landmark will lead to many more such partnerships and investment opportunities for the future.”

SAC is a key partner that will invest in developing a state-of-the-art agriculture value chain encompassing sustainable production, processing, warehousing, and export marketing of grain crops to help ensure regional food security.

CMEC as a technology partner will help with the adaption of climate-smart precision agriculture farm machinery, improved high-yielding seeds, and other crop inputs in Pakistan.

The new collaborations will potentially unlock a tremendous amount of untapped land resources of Pakistan by bringing fallow lands under cultivation for sustainable production of crops like rice, barley, oats, silage bales for livestock, and dairy industry under the Corporate Agriculture Farming initiative.

Related: Saudi’s ITFC signs $1.2bn 2022 Annual Plan with Pakistan